SiriusXM delivered higher revenue and earnings during the second quarter. The company also reported improving subscriber trends and stronger profitability.
What We Know: SiriusXM reported 33 million subscribers, with its monthly churn improving 1.4% during the quarter. It reported second-quarter revenue of $2.160 billion, up from $2.138 billion during the same period last year. Subscriber revenue increased modestly, while advertising revenue posted a stronger gain. Meanwhile, the company reduced operating expenses by nearly $85 million, helping drive higher profitability. Net income climbed to $245 million, and adjusted EBITDA reached $691 million as management continued executing its strategy to improve operating performance and strengthen its subscription business.
What the Numbers Show:
| Metric | 2026 2nd Quarter | 2025 2nd Quarter | % Change |
|---|---|---|---|
| Subscriber Revenue | $1.638B | $1.629B | 🟢 ▲ 0.6% |
| Advertising Revenue | $454M | $432M | 🟢 ▲ 5.1% |
| Total Revenue | $2.160B | $2.138B | 🟢 ▲ 1.0% |
| Total Operating Expenses | $1.688B | $1.773B | 🔴 ▼ 4.8% |
| Net Income | $245M | $205M | 🟢 ▲ 19.5% |
| Adjusted EBITDA | $691M | $668M | 🟢 ▲ 3.4% |
What They Said: “Since resetting our strategy, we’ve been focused on building a stronger, more durable SiriusXM, and our second quarter performance demonstrates that strategy is delivering meaningful results. We achieved positive second-quarter self-pay net additions for the first time in four years, strengthened engagement and retention across our subscriber base, and continue to build momentum by delivering premium content and experiences that deepen our connection with listeners while creating new opportunities for advertisers.” – SiriusXM CEO Jennifer Witz
What It Means: The results suggest SiriusXM’s efforts to stabilize its core subscription business are beginning to gain traction. Additionally, advertising revenue outpaced subscriber revenue growth, providing another positive signal for the company’s diversified business. Lower operating expenses also expanded profitability, giving SiriusXM greater financial flexibility as it invests in programming, technology, and advertising solutions. While subscriber growth remains an important long-term focus, the latest quarter indicates the company is making measurable progress toward improving both financial performance and listener engagement.
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Garrett Searight is Barrett Media’s News Editor, which includes writing daily news stories, features, and opinion columns. He joined Barrett Media in 2022 after a decade leading several radio brands in several formats, as well as a 5-year stint working in local television. In addition to his work with Barrett Media, he is a radio and TV play-by-play broadcaster. Reach out to him at Garrett@BarrettMedia.com.